Asia

November 11, 2017 @ 4:02 pm By Xu Gao  |  

China Financial Stability Committee established in Beijing On November 8th, the China Financial Stability Committee was officially launched. This is a subordinated department under the State Council, of which Vice Premier Ma Kai will serves as the head. To be specific, the committee will be… Read More

November 10, 2017 @ 10:05 am By JD Alois  |  

Chinese online lender PPDAI traded on the NYSE under ticker PPDF today after pricing shares at $13 each for their initial public offering. The IPO raised $221 million for the peer to peer lending platform with Credit Suisse and Citi acting as lead managers.  PPDAI… Read More

November 7, 2017 @ 10:33 pm By JD Alois  |  

One of the fastest growing Fintech’s in China has raised USD $220 million. WeLab, a Hong Kong-based mobile lending platform founded in 2013, has closed funding round of $220 million including both strategic debt and equity funding with the backing of Alibaba Hong Kong Entrepreneurs Fund,… Read More

November 6, 2017 @ 2:55 pm By JD Alois  |  

Fincera (OTCQB:YUANF) , a China based peer to peer online lender targeting small and medium-sized businesses and individuals in China, has announced that its Board of Directors has approved a 2 for 1 stock split of the Fincera’s outstanding shares of common stock in the… Read More

November 6, 2017 @ 1:13 pm By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has inked an agreement with the China Securities Regulatory Commission (CSRC) to cross promote Fintech firms in their respective markets. Australia has targeted Fintech as strategic for their economy. China is the largest Fintech market in the world…. Read More

November 6, 2017 @ 10:01 am By Samantha Hurst  |  

Pundi X, a blockchain startup that aims to make cryptocurrencies an enabler of cashless payment environments across South East Asia, announced on Monday the launch of its Know Your Customer (KYC) process to whitelist investors in preparation for its public Initial Coin Offering (ICO). Investors who… Read More

November 6, 2017 @ 7:28 am By JD Alois  |  

Securities Commission Malaysia (SC) says it continues to lead digital innovation in finance with significant progress reported on major Fintech markets initiatives. At its flagship Fintech event, SCxSC Digital Finance Conference 2017, SC Chairman Tan Sri Ranjit Ajit Singh in his speech delivered to attendees… Read More

November 4, 2017 @ 11:31 am By Xu Gao  |  

China is Reported to Shut Down Illegal Cash Loan Platforms Bloomberg, citing sources close to the situation, reported that regulators in China has started to consider strengthening supervisions towards cash loan platforms, with high probability of shutting down illegal ones. This round of inspections will… Read More

November 3, 2017 @ 9:24 am By JD Alois  |  

The Monetary Authority of Singapore and China Securities Regulatory Commission (CSRC) met this week in a roundtable meeting to discuss closer cooperation. This is the second meeting of its kind with the first taking place in Chongqing, China in April 2016. MAS and CSRC discussed how… Read More

November 3, 2017 @ 8:53 am By JD Alois  |  

Hexindai Inc. (NASDAQ: HX) a peer to peer lending platform operating in China, priced and closed its initial public offering (IPO) of 5,000,000 American depositary shares at $10 per ADS raising $50.0 million. Each ADS represents one ordinary share of the Company. The shares commence trading on the… Read More

November 1, 2017 @ 8:19 am By JD Alois  |  

The University of Hong Kong has announced a new Massive Open Online Course (MOOC) entitled an Introduction to Fintech. The MOOC is expected to launch in March 2018. The new course on Fintech was revealed during Hong Kong’s second annual Fintech week event. The course… Read More

October 31, 2017 @ 1:59 pm By JD Alois  |  

  Hong Kong Fintech Week ended on October 27th. According to organizers, the main story emerging from the week long event is the fact that Hong Kong is very much a Fintech leader in Asia. Frequently compared to Singapore – regularly viewed as the leading… Read More

October 31, 2017 @ 7:43 am By JD Alois  |  

Singapore-based crowdfunding platform Crowd Genie has announced the launch of a provision fund entitled GenieShield. This new fund is geared towards providing investors better protection against delays and potential defaults in loan repayments. Crowd Genie reports the fund will be managed by a Singapore-registered Trust… Read More

October 30, 2017 @ 3:36 pm By Samantha Hurst  |  

Blockchain credit bureau MicroMoney announced over the weekend it is expanding its token distribution campaign into China and U.S. markets. This announcement comes just after the campaign generated $7.8 million. As previously reported, MicroMoney describes itself as a company that is focused on micro-financing in the… Read More

October 30, 2017 @ 3:02 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has released an “industry transformation map” (ITM) for financial services. The graphic is a visual depiction of growth strategies designed to create a leading global financial centre. This “roadmap” highlights the importance of financial innovation or Fintech to the… Read More

October 30, 2017 @ 10:56 am By Samantha Hurst  |  

Pundi X, a blockchain startup that aims to make cryptocurrencies an enabler of ubiquitous cashless payment environments across South East Asia, has successfully closed its pre-sale ICO with a total of 3,148 ETH, 613 BTC and 250,040 XEM, an equivalent to 14,000 ETH or $4 million, secured… Read More

October 30, 2017 @ 9:09 am By JD Alois  |  

Zilliqa, a high-transaction rate blockchain platform designed to power the future of financial transactions, has added two leaders of banking and Fintech to their advisory board. The announcement comes at a time when the company prepares to release their public testnet and source code to developers…. Read More

October 29, 2017 @ 9:44 pm By JD Alois  |  

LATTICE80 is getting bigger, faster. The worlds largest Fintech hub, based in Singapore, will expand to 70,000 sq. ft. and then at a later date, jump to 100,000 sq. ft.  The physical growth is being matched with some strategic moves as LATTICE80 will launch its… Read More

October 28, 2017 @ 10:45 am By Xu Gao  |  

51 CreditCard (u51.com) is Planning to List in Hong Kong in 2018 51 CreditCard (u51.com), a leading online platform for credit card bill management, is reported to be listed on Hong Kong Exchanges and Clearing Limited (HKEX) in 2018, aiming to raise at least 500… Read More

October 27, 2017 @ 1:44 pm By Samantha Hurst  |  

Chinese fintech and Alibaba-affiliated Ant Financial revealed this week it is putting its Initial Public Offering (IPO) plans on hold and is now focused on investing in more startups and artificial intelligence (AI). The news of Ant Financial’s plans comes less than a year after… Read More